India's NSE index fell 2% on Monday as the rupee dropped to record lows, while the benchmark 10-year government bond yield rose to 9% with the government's measures being seen as inadequate to halt the free-fall in the rupee.

Blue chips including ICICI Bank fell nearly 4% on fears
that foreign investors may pare their holdings in Indian stocks as the rupee hits a record low.

The broader NSE index fell 2.1% while the benchmark BSE index lost 2%.